Though Coal Shipments are Down, CSX (CSX) Will Thrive - Cramer
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Price: $47.58 +0.46%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.2%
Revenue Growth %: +5.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.2%
Revenue Growth %: +5.3%
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CSX Corp. (NYSE: CSX) could make a move higher Friday, following a sit-down from CEO Michael Ward with stock swami Jim Cramer.
On July 17th, CSX issued a two cent earnings beat, which left the shares higher at the end of the session.
Ward, giving a cool assessment of the environment, said U.S. coal shipments were down big, falling 33 percent from last year to 1 million carloads in 2012. Ward did note that the company anticipated the drop, with closing of older, coal-fired plants happening later than expected.
Outside of coal, Ward noted that about 80 percent of its other industries are either stable or improving, including lumber, which is closely tied to housing development. Auto shipments rose 27 percent in 2012, which chemicals, nat gas, and oil shipments are also on the rise.
CSX also has a new hub in Ohio, which is opening up new markets for the company while improving the company's overall service.
On CSX, Cramer said it was a cheap stock which isn't done moving higher.
Shares closed 1.9 percent higher Thursday, though its up about 6.9 percent since the start of 2012.
On July 17th, CSX issued a two cent earnings beat, which left the shares higher at the end of the session.
Ward, giving a cool assessment of the environment, said U.S. coal shipments were down big, falling 33 percent from last year to 1 million carloads in 2012. Ward did note that the company anticipated the drop, with closing of older, coal-fired plants happening later than expected.
Outside of coal, Ward noted that about 80 percent of its other industries are either stable or improving, including lumber, which is closely tied to housing development. Auto shipments rose 27 percent in 2012, which chemicals, nat gas, and oil shipments are also on the rise.
CSX also has a new hub in Ohio, which is opening up new markets for the company while improving the company's overall service.
On CSX, Cramer said it was a cheap stock which isn't done moving higher.
Shares closed 1.9 percent higher Thursday, though its up about 6.9 percent since the start of 2012.
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